Top ADNOC Approved ICV Consultants, Agencies & Auditors in Abu Dhabi, Dubai, UAE (2021)
In order to diversify the UAE Economy, the ICV program has been launched by ADNOC with the main focus on localization of goods and services, employment opportunities for UAE nationals in the private sector as well as localization of significant functionalities in the Oil and Gas sector. As a result of the implementation of the ICV program, it has become mandatory for ADNOC’s suppliers and service providers to show a significant increase in the ICV score by declaring their ICV accomplishments certificate against the previous financial year.
Criteria of awarding ADNOC tender is based on lowest price and highest ICV score, thus it is essential to hire professional ADNOC ICV consultants, agencies, and auditors in Abu Dhabi, Dubai, UAE to assist in the ICV certification process. These firms offer the following services:
- Attaining ICV Certification
- ICV Consultancy
- ICV Improvement Planning
- ICV Program Implementation
Services provided by ADNOC approved ICV Agencies and Auditors
In addition to that, the ADNOC ICV consultants, agencies, and auditors in Abu Dhabi, Dubai, UAE provides personalized service by facilitating clients in meeting the required level of ICV score in the following ways:
- Develop the understanding of the clients regarding the ICV concept while determining factors that affect the ICV score.
- Provide recommendations to enhance ICV score and analyze/compile the incremental impact of each step in a comprehensive report.
- Give suggestions regarding remodeling and restructuring of organizational processes to maximize ICV score.
- Design the ICV template, based upon the financial year records under certification.
- Build detailed ICV improvement plans that are required to be submitted with the tenders of ADNOC to the Department of Economic Development, Abu Dhabi Ports, and Aldar Properties.
Calculation of ICV scores by ADNOC approved ICV Agencies and Auditors
Top ADNOC ICV consultants, agencies, and auditors play a vital role in the calculation of ICV scores. The ICV of an entity is calculated by taking into consideration the economic value of the goods or services offered by the company. Following main factor needs are included in ICV calculation:
- Profit, Revenue and Net income
- Third-Party Expenditures
- Contribution by Expatriates
- Emirati Headcount
- Goods Manufactured
- Job opportunities for UAE nationals
Furthermore, these top ADNOC ICV consultants, agencies, and auditors in Abu Dhabi, Dubai, UAE have trained staff of accountants who are well-versed with the concept of ICV. They do not only help in increasing the ICV score but also assist in highlighting those factors that can decrease ICV by evaluating and reviewing client’s financial statements and business accounts.